Forums
Inventory valuation
Accountancy
answered on 17-Jul-21 16:40
What is mean by the mark up being 25% on cost in the first picture? And in the second picture,. How is the cost of goods sold is given by 2,50,000 x ( 100/125 ) ? Thank you for your kind help.
latest answer
mark up of 25% means Cost + 25% = sales price So if SP is 125 CP is 100 so if SP is 250000 Cost is 250000 x 100/125
Vijay K
CA Inter
★ 9K+
1
828
Questions
Accountancy
answered on 16-Jul-21 14:09
In the first two papers of ca foundation, can theory based questions be asked from book inside other than the questions given in the exercise?
latest answer
Ok
Sibi Srinivasan
CA Final
★ 22K+
2
580
Bank reconciliation statement
Accountancy
answered on 17-Jul-21 10:40
In BRS when should we prepare cash book (bank coloumn) and when should we not prepare cash book bank coloumn. Rest all is clear in that
latest answer
Yes
Aditya A.D
CA Foundation
★ 10K+
3
721
BRS
Accountancy
answered on 16-Jul-21 13:54
In the 7th statement of question1, they have give credit balance in pass book but in the answer they have given as debit balance. So in the answer is it credit or debit balance? I got debit balance only, but I want to confirm it. And thank you for your kind help.
latest answer
It should have been debit balance. Printing error in the material.
Vijay K
CA Inter
★ 9K+
4
679
Buy back
Accountancy
answered on 14-Jul-21 20:40
Please refer below question and answer And answer why revenue reserve was used to transfer to CRR rather than p&l a/c
latest answer
Thank you sir understood!!!
Sai Teja
CA Final
★ 14K+
2
612
Hire purchase
Accountancy
answered on 14-Jul-21 21:44
Illustration-5 If we take different guessed rates as we wish whether the interest rate will be same or different
latest answer
Ok sir ð???
AbithaSuku S R
CA Inter
★ 2K+
2
559
Buyback
Accountancy
answered on 14-Jul-21 11:35
Can buyback be done at discount?...if yes then please give journal entry for the same
latest answer
Shares bought-back at their face value - Share Capital Account will be debited and Bank, credited. Shares bought-back at a premium (price higher than their face value) - premium debited to General Reserve or Securities Premium Account. Shares bought back at a discount (price less than their face value) - discount amount will be credited to Capital Reserve
Harshita Kedia
CA Inter
★ 4K+
2
591
From AS
Accountancy
answered on 13-Jul-21 23:27
Who are called as "prospective shareholders" & "Prospective banker's" of Financial statements of a company?
latest answer
Future shareholders and future bankers
tejeswar choudhury
CA Inter
★ 130
1
745
AS-5
Accountancy
answered on 14-Jul-21 11:41
Is change in depreciation from slm to wdv is accounting policy or change in accounting estimate? Mention reason also if possible
latest answer
Change in depreciation method is not a change in accounting policy rather it is a change in accounting estimate. Change in accounting policy only occurs if rules of either recognition, measurement or presentation of line item are changed. Change in depreciation method changes neither of these. Therefore, it is a change in accounting estimate.
Surya Prakash
CA Final
★ 19K+
9
1K+
Adv acc- BANKING CO
Accountancy
answered on 14-Jul-21 11:47
How they use 23% , what rate that is, why they calculated??
latest answer
CRR + SLR
Sathiya Bama
CA Final
★ 24K+
3
800